Bitcoin broke through the key resistance level of 42,000, and further on it is necessary to monitor the situation, as a false breakout can be formed from this level and the currency will go into a deeper correction, whereas in case of consolidation and impulse outburst formation, the probability will shift towards further growth.
Altcoins: UNI idea is still relevant, at this stage there are no signals that indicate a downward reversal of the coin.
Wow @sumairk you don't see the corrections and consolidations that took place before the latest rise?! From the former ATH it fell 12,000 USD! If that isn't a correction then what is?
sumairk
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@innocentAccoun35113, nop, after 20k it never made any big correction at all, it dropped to 29-30k after hitting 40 mark, for not less then a day, there were few shorting but not big one like bears were in full control for more then week or so, so if we keep going like this there is no stop for btc and strong support like it had before. if you see BTC on larger time frame you will notice all green bars that is still due.
innocentAccoun35113
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?! Corrections can take place over both a short or long period of time. From 42k it took 2 weeks to fall to a low of 28880. In the future there might be a correction that takes longer...,but for now it has already fallen by an appropriate amount and seems to be moving on.
sumairk
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You are right, big correction is still due for BTC, right now its all FOMO and insitituion taking interest, if we keep going like that this cycle wont stop ever, bullrun needs to end and consoldation must take place. it is dangerous and how long we keep going time will tell.
artisticZebra75843
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@sumairk, and there will be more institutions intrested now